Tesla Board Chair Refutes CEO Replacement Rumors

Published 8 hours agoTSLA

Tesla Board Chair Refutes CEO Replacement Rumors

Robyn Denholm, Tesla's board chair, has dismissed recent reports alleging that the company is on the lookout for a new CEO to replace Elon Musk. Denholm described these reports as "absolutely false" and reiterated the board's steadfast confidence in Musk's leadership and vision, according to Reuters.

Meanwhile, Musk's role in the Trump administration as the head of the Department of Government Efficiency has sparked controversies contributing to a dip in sales across the U.S. and Europe. The Financial Times highlighted Tesla's economic challenges, noting that the company's profits plunged by 71% in the first quarter, coupled with a 30% drop in stock value, erasing over $800 billion in market capitalization.

Despite these hurdles, Denholm conveyed the board's assurance in Musk's capacity to steer Tesla's growth trajectory. This support underscores the board's commitment to maintaining its leadership direction amidst external pressures and financial headwinds.

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